In one of our most read stories of 2020, we got a glimpse of BlackRock’s moves over the year via its Aladdin platform, a major regulatory delay, a promotion at JP Morgan, and launches. from HSBC and State Street. Today we bring you the top five most read of the year, with some big guard moves, a fund administration acquisition and a major move to top it off.

  1. FIS takes majority stake in alternative fund administration provider Virtus

FIS’s majority stake in hedge fund administration firm Virtus was the first of several major mergers and acquisitions that have taken place in the fund services space this year. The deal gave FIS access to a range of new front-to-back-office services for credit-focused hedge fund managers, ranging from deal origination, negotiation and direct lending. cash management, settlement, fund accounting and net asset value calculations.

The acquisition also gave a boost to FIS ‘hedge fund solutions business, which seeks to become a go-to technology and outsourcing provider not only for directors, but also for hedge funds and managers. of private equity. Virtus would later partner with State Street to provide new technology management solutions for the secured loan bond (CLO) and secured debt bond (CDO) markets.

  1. Northern Trust Signs Alliance with BlackRock As Part of New “Whole Office” Strategy

BlackRock’s Aladdin has made headlines this year thanks to its partnerships with many global custodian banks (and you can read more about that below), but its alliance with Northern Trust has been the most read.

In June, Global Custodian announced that the Chicago-based custodian had partnered with BlackRock and announced the launch of “Whole Office,” a new end-to-end investment ecosystem for its asset manager and allocator clients who will encompass everything from trading services and operations to information and data analysis.

Underpinning the deployment is an agreement with BlackRock where joint customers can benefit from using the asset management giant’s vendor Aladdin. The service link will provide customers with increased efficiency, interoperability and transparency in the back office, middle office and front office, with operational, data and service capabilities.

  1. The Alpha bet: how State Street silences skeptics of its Charles River acquisition

In October, Global Custodian featured an exclusive interview with State Street CEO Ron O’Hanley following the Boston-based custodian’s impressive third quarter results. Two years after State Street acquired Charles River for $ 2.6 billion, O’Hanley reflected on the depository’s bold strategy, in which his State Street Alpha platform was responsible for a third of the new mandates won in the over the past three months. .

On top of that, O’Hanley told Global Custodian that we can expect even more impressive numbers for the rest of the year. “It’s a great year of development. So far so good, and the biggest quarter for deliverables is the fourth quarter, ”he explained. “From a pure deal synergy perspective and what we said we were going to deliver, we are exceeding what we planned for in 2018. But more importantly, we are positioning ourselves to be able to change our strategy and not move away from the fund service, but to complement what we can do in the front office and middle office.

  1. BNY Mellon Interim CEO Shakes Up Asset Management Leadership

The second most read story was both before COVID took over the world and before BNY Mellon made Todd Gibbons a permanent CEO. The world’s largest custodian bank started the year with a major overhaul of its asset management business, giving new roles to Hani Kablawi, Roman Regelman and Akash Shah.

Kablawi was appointed head of international, while Regelman took on the dual role of head of asset and digital services, and Shah would take on the leadership of global client management. These steps would put in place several key initiatives undertaken by BNY Mellon this year, such as its adoption of Microsoft Azure to provide new data management capabilities, an alliance with NCB Capital to provide global custody services in Saudi Arabia and the launch of a new front – a back office infrastructure called OMNI.

  1. BNY Mellon Adds Former JP Morgan Product Manager to Top Global Guard Position

Surprisingly, and thankfully, nothing related to COVID-19 surrounds our most read story of 2020 (maybe that’s because you can’t turn on the television without seeing a disheartening report on the virus), but it Rather, it was one of the top People Moves of the Year when JP Morgan’s former Global Custody Products Manager for the Americas, Caroline Butler, joined BNY Mellon as Global Custody Manager.

Previously at JP Morgan, Butler helped set up the bank’s U.S. Exchange Traded Fund (ETF) service business. In his new role, Butler would lead product strategy and work with key asset management stakeholders, as BNY Mellon continues to transform its global custody business with a focus on digitization, new markets and platforms. modernized conservation facilities.


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